Market Uncertainty in the Coating Systems Business Due to Trade Friction
First written in FY2019-Q1. 8 of 17 entries say "Worsened", first in FY2019-Q2. Latest entry: FY2026.
Taikisha moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2022: 105 of 134 companies on the "Worse" side.
75 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In addition, delays in responding to changes in the production equipment required by automakers to achieve carbon neutrality could lead to customer attrition and affect the Group's business performance and other matters.」
In addition to the previous market uncertainty caused by trade friction, geopolitical risks and resource prices, the risk of delays in automakers' adoption of carbon-neutral production equipment was explicitly identified. - FY2026-H1WorsenedAnnual report
「The global economy during the current interim consolidated accounting period continues to face uncertainty over its outlook, including uncertainty surrounding policy developments such as the United States' reciprocal tariffs, prolonged geopolitical risks in Eastern Europe and the Middle East, and fluctuations in prices and financial and capital markets in various countries.」
Reciprocal tariffs, prolonged geopolitical risks, and fluctuations in prices and financial and capital markets were specifically identified as external risks related to the market environment for the painting systems business. - FY2023-Q3RestatedAnnual report
「During the first nine months of the current fiscal year, the global economy remained uncertain despite progress in balancing measures to prevent the spread of COVID-19 with economic activity, due to soaring resource prices associated with the protracted Ukraine crisis, policy rate hikes accompanying accelerating inflation in Europe and the United States, and rising tensions between the United States and China.」
In addition to the previous uncertainty concerning US-China relations and trade friction, the Ukraine crisis, soaring resource prices, and continuing inflation and interest rate hikes in the United States and Europe are described as part of the external environment. - FY2023-Q2WorsenedAnnual report
「During the first six months of the current fiscal year, the global economy remained uncertain despite progress in balancing measures to prevent the spread of COVID-19 with economic activity, due to soaring resource prices associated with the protracted Ukraine crisis, policy rate hikes accompanying accelerating inflation in Europe and the United States, and rising tensions between the United States and China.」
In addition to the previous uncertainty concerning trade friction and US-China relations, the Ukraine crisis, interest rate hikes in the United States and Europe, and accelerating inflation were specified as sources of uncertainty for the global economy. - FY2023-Q1WorsenedAnnual report
「During the first nine months of the current fiscal year, the global economy remained uncertain despite progress in balancing measures to prevent the spread of COVID-19 with economic activity, due to soaring resource prices and logistics costs against the backdrop of heightened tensions in Ukraine and strengthened economic sanctions against Russia, as well as supply-chain disruptions.」
In addition to the previous uncertainty concerning trade friction and the situation in Europe, the situation in Ukraine, sanctions against Russia, soaring resource prices and logistics costs, and supply chain disruptions were specified as external environmental factors. - FY2022WorsenedAnnual report
「In Europe, restrictions on economic activity were eased in each country and the economy began to recover, but the intensifying situation in Ukraine, soaring energy prices and other factors are currently raising concerns about an economic slowdown.」
In addition to the previous uncertainty caused by US-China trade friction, the intensifying situation in Ukraine and soaring energy prices were added as factors contributing to an economic slowdown in Europe. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there were no material changes in the major risks, including market uncertainty in the painting systems business due to trade friction. - FY2022-Q2RestatedAnnual report
「There are no material changes concerning the occurrence of key risks or the "Business and Other Risks" described in the securities report for the previous fiscal year.」
It is stated that there were no material changes in existing risks, including market uncertainty in the painting systems business due to trade friction. - FY2022-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
It is stated that there were no material changes in the major risks, including market uncertainty in the painting systems business due to trade friction. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there were no material changes in the major risks. Although trade friction is not mentioned specifically in the description of the market environment, the company's statement that there were no changes overall in its risks was reconfirmed. - FY2020RestatedAnnual report
「During the current consolidated fiscal year, the global economy deteriorated substantially as demand declined both in Japan and overseas and the economic environment worsened significantly, due to US-China trade friction and, since the beginning of the year, the spread of COVID-19.」
Uncertainty due to US-China trade friction continues to be described. This time, the decline in demand and deterioration of the economic environment caused by the spread of COVID-19 are also noted. - FY2020-Q3WorsenedAnnual report
「In the domestic market, electronic component manufacturers and others entered an adjustment phase due to factors including US-China trade friction.」
It is stated that, in addition to the continued uncertainty in the market, electronic component manufacturers in Japan entered an adjustment phase due to factors including US-China trade friction. The impact of trade friction manifested itself as a market adjustment. - FY2020-Q2RestatedAnnual report
「Regarding the market environment for the Group, demand remained strong, including investment by domestic electronic component manufacturers and others and office building construction investment in the Tokyo metropolitan area, despite continued uncertainty in the domestic market due to factors including US-China trade friction.」
Although market uncertainty due to factors including US-China trade friction continued, investment by domestic electronic component manufacturers and office building construction investment in the Tokyo metropolitan area were described as strong. - FY2020-Q1RestatedAnnual report
「Overseas markets, however, continued to face uncertainty due to factors including US-China trade friction.」
Overseas markets continued to face uncertainty due to US-China trade friction. - FY2019-Q3WorsenedAnnual report
「Regarding the market environment for the Group, investment by electronic component manufacturers and others in the domestic market remained strong, while demand for office building construction in the Tokyo metropolitan area also remained high. Overseas markets, however, continued to face uncertainty due to factors including US-China trade friction.」
Overseas markets continued to face uncertainty due to US-China trade friction. The main text does not state that this uncertainty directly affected the Group's business performance. - FY2019-Q2WorsenedAnnual report
「The painting systems business also saw active investment in China, India, North America and other markets, despite uncertainty caused by factors including US-China trade friction and the renegotiation of NAFTA.」
Specific external factors, namely US-China trade friction and the renegotiation of NAFTA, were identified in place of the general uncertainty caused by trade friction in the previous quarter, broadening the range of risk factors. The main text does not state that these factors directly affected business performance. - FY2019-Q1First statedAnnual report
「The painting systems business also saw active investment in North America, China, India and other markets, despite uncertainty caused by trade friction.」
Uncertainty caused by trade friction is described as a new external risk affecting the market environment for the painting systems business. The main text does not state that trade friction actually affected business performance.